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The crypto exchangeâs transaction revenue fell 44% from the second quarter. Crypto exchange Coinbase (COIN) cut its third-quarter losses by 50% to $545 million from $1.1 billion in the second quarter, the company reported Thursday, as the company reined in costs and cut workers, and also increased its interest income. However, its transaction revenue continued to be significantly impacted by...
Though the cityâs regulator has set a high bar for companies to operate at present, the door is open for the further relaxing of rules. Hong Kong (Anthony Kwan/Getty Images) HONG KONG â On Monday, at the opening of Hong Kong FinTech Week, regulators declared the cityâs ambitions to be a virtual asset hub. The governmentannouncedthat it will hold consultations...
The government says it's ready to engage with virtual asset service providers and invite them to the city. Hong Kong FSTB Secretary Christopher Hui talks to co-founder of Animoca Brands Yat Siu at Hong Kong FinTech Week. (Lavender Au/CoinDesk) Hong Kongâs Financial Services and Treasury Bureau issued apolicy statement on virtual assetsat the opening of the city's flagship tech conference...
Muskâs buyout occurred after a lengthy back-and-forth between the two sides. Tesla CEO Elon Musk has completed his deal to buy Twitter. (Photo by John Shearer/Getty Images) Tesla (TSLA) CEO Elon Musk, the world's richest man, has finally closed his deal to buy social media platform Twitter (TWTR)CNBC reported, citing sources. The deal's closure faced a deadline of this Friday...
In a separate document, the Monetary Authority of Singapore said it's also considering measures to limit retail investors without access to professional advice from engaging in crypto markets. (Shutterstock) The Monetary Authority of Singapore (MAS) has proposed a slew of new rules to rein in the local crypto industry â starting with some stringent standards for stablecoin issuers. The rules...
Small cap platform that promised users up to 43% in annual awards puts the brakes on withdrawals and scrubs team from site. Freeway, a crypto staking platform, announced late Sunday that it had paused withdrawal services, citing volatility in the crypto and forex markets and sending its token into a free-fall. The Freeway (FWT)token is downroughly 80% in the hours...
The federal regulatorâs annual enforcement results revealed that over 20% of the CFTCâs enforcement actions in 2022 involved crypto. CFTC Chair Rostin Behnam (Nikhilesh De/CoinDesk) The U.S. Commodity Futures Trading Commission (CFTC) brought 82 enforcement actions in fiscal year 2022 â a whopping 22% of which were filed against crypto-related entities. According to the federal regulatorâsannual enforcement reportpublished Thursday, the...
MakerDAO, one of the largest decentralized protocols, is in the middle of a makeover. Rifts have emerged between investors and founders as they offer competing plans for making the protocol more decentralized and try to drive growth. MakerDAO founder Rune Christensen (CoinDesk TV) Venture capital giantAndreessen Horowitz(a16z) is not on board with the founderâs vision to break upMakerDAO, one of...
Government to allow smartphones to replace existing ID cards Korea sees economic value of digital IDs at around 3% of GDP A pedestrian usesa smartphone at Seoul Station in Seoul, South Korea. Photographer: SeongJoon Cho/BloombergSouth Korea plans to offer a digital identity secured by blockchain to citizens with a smartphone as it taps into the worldâs most tech-savvy population to...
Twitter critics accused Maren Altman, who has more than 1.8 million social media followers, of not being forthcoming about her deal with the now-bankrupt crypto lender. The influencer says her marketing sponsorship role is no different than doing fashion ads. Crypto influencer Maren Altman (Maren Altman) Maren Altman, a popular bitcoin and ether-focused astrologist, is suddenly a fallen star among...
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